Butterfly Network Q4 revenue beats on Midjourney partnership

Butterfly Network

26/02/2026 11:39

Overview

Digital health firm's Q4 revenue rose 41% yr/yr, beating analyst expectations

Company achieved positive net cash flow of $6.3 mln in Q4

Midjourney partnership contributed $6.8 mln to Q4 revenue

Outlook

Butterfly Network forecasts 2026 revenue of $117 mln to $121 mln, up 20% to 24%

Company expects adjusted EBITDA loss of $21 mln to $25 mln in 2026

Butterfly Network anticipates first HomeCare agreement by mid-2026

Result Drivers

MIDJOURNEY PARTNERSHIP - Contributed $6.8 mln to Q4 revenue, advancing Butterfly Embedded™ platform strategy

SEMICONDUCTOR STRATEGY - Transition to semiconductor-based company with Ultrasound-on-Chip™ technology driving growth

R&D ADVANCEMENTS - Production of fifth-generation P5.1 chip and Apollo development to enhance AI-enabled imaging

Company press release: ID:nBw377Ns7a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$31.50 mln
$25.92 mln (4 Analysts)
Q4 Net Income
-$15.30 mln
Q4 Adjusted EBITDA
-$3.20 mln
Q4 Adjusted Gross Margin
67.50%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

Wall Street's median 12-month price target for Butterfly Network Inc is $5.13, about 65.3% above its February 25 closing price of $3.10

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)